wsm
Not much action with this NR
2003-05-08 13:24 ET - News Release
Mr. Janos Stiasny reports
In accordance to Websmart.com's news as reported in Stockwatch April 24, 2003, pertaining to the non-brokered private placement of $2.5-million (U.S.), the company and Sports, Entertainment & Learning Network, Inc. (SE&L) of Bellevue, Wash., mutually agreed to postpone the receipt of $15,000 (U.S.) non-refundable deposit until May 15, 2003, by way of an amendment, mutually signed by both parties on May 8, 2003. The company and SE&L further expressed their respective commitments in pursuing this relationship notwithstanding the fact the company expressly reserves the right, in the event of non-compliance by SE&L as of May 15, 2003, to unilaterally terminate the agreement, amended on May 8, 2003.
In other news, during the last five months the company restructured some of its relationships with suppliers and contracted parties. The exclusive reseller agreement between AudioSmartCard SA of Paris, France, entered into on May 8, 2003, was amended as previously announced, and the company is a non-exclusive distributor and value-added reseller for all products supplied by AudioSmartCard SA., in central Europe, Canada, United States and Japan, effective Jan. 17, 2003, and May 1, 2003, subsequently.
While the company is in the continuing process of due diligence pertaining to the recently announced SE&L transaction, it is also investigating further business opportunities to complement current operations. In the event that there would be any material change that may have an impact and/or effect on the company's affairs, will be disclosed in a timely manner